FG offers ₦2 trillion in bonds Nov 16 — here's how to invest
FG offers ₦2 trillion in reopened FGN bonds via DMO auction on November 16, 2026, with settlement November 18. The offer spans four instruments: ₦700 billion at 21.00% (March 2028), ₦250 billion at 19.30% (April 2029), ₦750 billion at 17.945% (August 2030), and ₦300 billion at 19.89% (May 2033). Coupon rates stay fixed — you bid on yield-to-maturity.
Minimum subscription is ₦50.001 million in multiples of ₦1,000 per unit. Interest pays semi-annually; principal at maturity. Bonds qualify as trustee investments, enjoy tax exemptions under CITA and PITA (including for pension funds), count as liquid assets for banks, and list on NGX and FMDQ. Backed by FG's full faith and credit.
Apply through Primary Dealer Market Makers: Access Bank, First Bank, Stanbic IBTC, Citibank, UBA, GTBank, Zenith Bank. DMO reserves final allotment discretion.
October's ₦1.75 trillion auction drew equal subscriptions but allotted only ₦1.2 trillion total — marginal rates 16.99%–17.29% versus original coupons of 15.45%–19.00%. Government securities allotments fell 55.86% month-on-month, per FMDA.
With yields likely clearing above 17%, will you lock in FGN bonds or hold for better entry points?